Investing was once reserved for the wealthy and well-connected. But the rise of digital platforms has disrupted the financial landscape, making it possible for anyone with a smartphone and pocket change to participate.
This revolution has brought about a new era of retail investors, who are turning to digital platforms to invest in stocks, currencies, commodities and other assets.
In this guide, we'll explore some of the statistics around the trading platforms available in Australia today.
Online trading in Australia is still a relatively young industry.
Just over 20 years ago, only 18% of stock trades were conducted through online share trading platforms, with most investors relying on full-service brokers, according to the RBA. Back in 2001, there were just over a million Australians signed up to these platforms, with around 10 options available to choose from.
In 2023, approximately 10.2 million Australians invested in stocks and approximately 70% of Australian investors used online trading platforms to buy shares (ASX).
The number of trading platforms in Australia has grown significantly in recent years.
There are now around 40 online trading platforms, with over a quarter of them launched in just the past three years. CommSec, founded in 1997, remains the top online broker in the country, maintaining the largest customer base.
Mobile investment apps have simplified the investment process and made it easier for people to enter the stock market with a few clicks.
The following data is derived from Finder surveys between April and September 2022:
The following figures are based on Finder's analysis from August 2023:
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